Telecom Giant Bags Massive $210 Million International Order After Delivering 500% Returns in Six Months
Shares of Sterlite Technologies, one of India's premier optical fiber and cable manufacturing giants, are primed for high market action and heavy investor attention on Thursday following a major corporate announcement. The stock has been on a phenomenal multi-month bull run, recently hitting a 5% upper circuit to close at ₹636.20. Backed by exceptional quarterly financial performances and aggressive capital-restructuring initiatives, the multi-bagger stock has witnessed an astronomical surge of over 500% in the last six months alone, touching record highs of ₹680 per share and capturing the undivided attention of Dalal Street.
Massive $210 Million Global Order and Strong Financial Growth Bolster Investor Confidence
In an official regulatory filing, Sterlite Technologies revealed that it has bagged a massive $210 million international supply contract for high-density optical fiber cables from a leading global telecom infrastructure provider, to be executed over a three-year window. This follows a string of major commercial wins, including a ₹960-crore domestic supply agreement secured on July 1. Financially, the company reported its highest-ever quarterly revenue of ₹1,910 crore and an EBITDA of ₹397 crore for the June quarter, marking staggering year-over-year growth of 87% and 184% respectively alongside a robust order book standing at ₹18,618 crore. Furthermore, the company successfully raised ₹1,500 crore via a Qualified Institutional Placement (QIP) featuring premier global and domestic institutions like Nomura, HSBC, and Motilal Oswal to aggressively slash debt and fortify its balance sheet ahead of upcoming trading sessions.
